Suez Canal Authority's New Rebate Policy: Circular No. 10/2023 for Vehicle Carriers
Jan 12, 2024
3 min reads
The Suez Canal Authority has released Circular No. 10/2023, introducing a revised rebate system for vehicles carriers. This policy aims to incentivize the use of the Suez Canal and enhance its competitiveness in global maritime routes.
Key Provisions of the Circular
Targeted Routes: The circular specifies rebate percentages for vehicles carriers operating between the East Coast of the Americas, the US Gulf, and ports in the Far East and Southeast of Asia.
Rebate Percentages: Detailed rebate percentages are outlined for specific routes, encouraging more vessels to choose the Suez Canal for their transits.
Impact on Global Shipping
The new rebate policy is expected to have a significant impact on global shipping, potentially redirecting a considerable number of vehicle carriers through the Suez Canal.
Circular No. 10/2023 represents a strategic move by the Suez Canal Authority to maintain its position as a key player in international maritime trade by offering attractive incentives to vehicle carriers.